Manchester United have recorded record revenues – but still lost £33m.
Despite recording a lowest Premier League finish of 15th, the Old Trafford outfit turned over £666.5m, which is the highest figure in the club’s history.
Six months ago, minority owner Sir Jim Ratcliffe claimed the club had risked running out of money before the end of 2025.
However, the restructuring that his Ineos group has put in place, which has resulted in more than 300 redundancies, has driven down costs.
United believe the figures represent the cost-cutting measures implemented by Ineos, which have triggered criticism in some quarters.